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How to answer your biggest Market Access and Pricing questions with Nuro [recording]

Webinar

How to answer your biggest Market Access and Pricing questions with Nuro

In this webinar, our Product Owner, Tom and Business Development Manager, Rob walk you through this must-see solution for early market access teams. 

They’ll show you how you can use the platform to: 

  • Answer your biggest market access questions across price, evidence and access
  • Speed-up analogue analysis 
  • Rapidly understand price and HTA potential of early and BD assets
  • Go beyond analogue analysis with net price forecasting, competitor tracking and evidence benchmarking

…And more.

For further information on Nuro or to book a demo, head to our product information page: accessinfinity.com/nuro/

Speakers

Tom Gilboy

Product Owner, Market Access

Robert Buckley

Senior Business Development Manager

Categories
Blog

What is Analogue Analysis?

It’s no secret that the landscape for market access and pricing professionals is ever-changing. Today the role of the function has evolved to be a critical link between R&D, medical and commercial functions. It’s providing the foundation for clarity in evidence expectations, willingness to pay and market needs, all while communicating and connecting pharma’s other functions.

Within this challenging environment, data-driven decision making is fundamental to overall business success. Enter, analogue analysis – the process of looking at past products’ performance to guide strategy and planning for current and future brands

An “analogue” is essentially a brand in a similar situation to your own. No brand is entirely the same as another, but it can have many of the same characteristics. Analysing these analogue brands can provide critical insight for our own brands, as they have already navigated through similar waters.

Why is analogue analysis beneficial?

When we predict the price and health technology assessment (HTA) outcomes of pharmaceutical brands, we base many of our assumptions on previously approved drugs – otherwise known as analogues. This competitor analysis in the pharmaceutical industry is essential for benchmarking price and informing product launch strategies.

In market access, we have time pressures to answer a range of complex questions. We need to know how to produce more accurate analyses and provide evidence to support a product launch strategy. From TPP profile definition through to price estimation, we need to speed up analysis to present the best business cases for early asset investment decision committees.

Important considerations for analogue analysis

When searching for analogues, we might look at defining characteristics such as:

  • Product and disease characteristics
  • Considerations for the launch environment
  • Broad or specific product launches.

We also need to ask ourselves some key questions. For example, what pricing opportunities are there in a highly genericised landscape? Does our product have an orphan indication? What does differentiation look like in a crowded marketplace? How can we support a trial design acceptable to payers if our comparator is off label?

TPP versus aspiration-led approaches

Analogues are selected using one of two approaches. One involves starting with what you have and using your existing TPP to identify analogues.  Another is more aspirational, defining outcomes you wish to achieve and identifying analogues that achieved those outcomes.

The TPP-led approach

In this approach, analogues are selected based on how well they match to the target product profile (TPP) for the brand. 

This approach works well when the TPP is available, however, it can be long and iterative, as many different TPP variations are introduced.  It is also difficult for market access teams to influence clinical programmes and medical strategies to shape the TPPs. 

Aspirational pricing and market access approach

This approach is based on a target price, and HTA outcomes that are expected to achieve the price. We need evidence to reach the desired HTA outcomes, which we can achieve by reverse engineering the TPP.

This makes it possible to guide research and development teams on trial designs and optimal products, but it may be far from reality. Whatever the findings, adequate risk analysis in the pharmaceutical industry is paramount, so whatever is identified must be robust.

Best practices for analogue analysis

Many teams face challenges, whichever approach is followed.  Analogue identification is frequently restricted by limitations on yours and your team’s knowledge.  Up to eight in ten analogues are selected based on team members’ personal knowledge, rather than being identified in a systematic manner.

At Access Infinity, we have developed Nuro to help you identify analogues, and get the best out of your analogue assessments. We generally advise this approach to get the best results:

Step 1: Define product or disease characteristics

This may include therapy areas, clinical benefits, molecule types, acute or chronic treatments, orphan drug indication, route of administration, and adult or child use.

Step 2: Define the launch environment

This may include size of target population, number of indicated products, availability of price benchmarks, competitor activity and off-label/on-label comparators.

Step 3: Apply criteria comprehensively and systematically

Bearing in mind that the above factors are not exhaustive, we need to take a comprehensive approach. This means starting with all EMA or FDA approved products. We need to be systematic when applying matchability of criteria. This will ensure repeatability, making for better business cases.

Step 4: Create the funnel

With these steps, we can then create our own funnels, for example, filtering out other therapy areas and focusing on auto-immune disorders. But we also need to be aware of the limitations, and draw on our own experience in addition to existing data. Generally, nine in ten analogues start with the disease, but we cannot simply create a funnel in any order.

The future

As pharmaceuticals become more expensive and competitive, we need faster, more reliable methods to benchmark pricing and assist product launches. Technology such as Nuro helps us to see all the essential data in one dashboard, which we can augment with our own experience.

No single method is the ‘correct’ one for getting a product to market effectively, as there are so many variables. What we can do is refine our strategies by looking at historical data and grouping by key characteristics. In future, this will help us satisfy HTA outcomes faster and create competitive price benchmarks.

Find out more about Nuro for analogue analysis here.

You can also hear our Founding Director Shri Rao Mukku talk more about analogue analysis in this webinar recording: https://accessinfinity.com/webinar/analogue-analysis-dos-and-donts/

Analogue analysis dos and don’ts [recording]

Webinar

Analogue analysis dos and don'ts

 

In this webinar, Founding Director Shri Rao Mukku explores analogue analysis dos and don’ts, uncovering the common mistakes seen in the industry and how to avoid them.

Interviewed by Louise, Shri discusses:

  • Key trends and changes in analogue analysis
  • The biggest challenges early market access teams face when finding the right analogues
  • How to take a systematic, rapid and repeatable approach to identifying and analysing analogues.

Speakers

Shri Rao Mukku

Founding Director, Access Infinity

Louise Bennett

Head of Marketing

Categories
Webinar Webinar Old

Analogue Analysis Dos and Don’ts

Analogue Analysis Dos and Don’ts

On-demand webinar
Get Access

Speakers

Shri Rao Mukku

Founding Director

Louise Bennett

Head of Marketing

About

As we heard at this year’s World EPA Congress, now, more than ever, the Market Access and Pricing function is an important bridge between R&D, medical and commercial functions. It’s providing the foundation for clarity in label, evidence expectations, willingness to pay and market needs, all while communicating and “connecting the dots” between pharma’s other functions. 

Among the many plates to spin, analogues need to be considered at every stage, so that influencing drivers for price and market access can be evaluated. With all this in mind, working smarter, faster and making better decisions has never been so important.

In this webinar recorded on 18th May 2023, Founding Director Shri Rao Mukku explores analogue analysis dos and don’ts, uncovering the common mistakes they see in industry and how to avoid them.

Interviewed by Louise, Shri discusses:

  • Key trends and changes in analogue analysis
  • The biggest challenges early market access teams face when finding the right analogues
  • How to take a systematic, rapid and repeatable approach to identifying and analysing analogues.

To learn more, complete the form below to receive a link to the recording. 

Request access to “Analogue Analysis Dos and Don'ts"

Complete the form and we’ll share the link to the recording. 

NURO

Answer complex business questions with a single platform

Answer your biggest market access questions using Nuro's unique analogue analysis approach

A business intelligence platform that not only provides and connects the dots across extensive data, but also delivers smart querying to find the analogues that best answer your questions

Book a demo

Purpose built for Market Access Analogue Analysis

Housing the majority of market access data needs across pricing, HTA, regulatory and clinical all under one umbrella

1,500,000 data points

With 450+ data points for every approved product, Nuro captures the critical insights needed to support and inform key market access decisions

30+ markets

With insights across all major global markets, Nuro is the go-to data solution for Global market access teams

Trusted by the world’s leading pharma companies

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Amgen
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Break down complex business questions

Nuro helps you tackle complex business questions with a systematic approaching which is robust and repeatable.

Learn from the past, inform the future

With insights for ~1,500 approved brands you can learn from past launches, competitors & industry trends to predict likely HTA outcomes, price benchmarks, etc for your brand.

No more cherry-picking analogues

Using 150+ filters you can perfectly match an exhaustive list of analogues in a matter of second, regardless of how specific your criteria.

Connect the dots

Nuro goes beyond just providing the data. Easily correlate datapoints with a range of interactive analytics features.

Get insights in an instant

Compare & contrast relevant datapoints side-by-side with Nuro’s interactive charts & tables, exportable to XLS, PDF, PPT

A visual speaks a thousand words

Create visualisations that inform your market access business question and highlight industry trends with 7+ interactive charts. Export into your organisation’s branded PPT template at the click of a button.

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Key Features

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Analogue analysis in minutes
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Competitive
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Therapy area reports
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450+ data points
for every approved product
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Monitor price evolution
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What our clients are saying

I found Nuro to be incredibly useful to find analogues and price benchmarks when I‘m asked to do quick turnaround assessments. I haven’t come across any other solution that comes close

Senior Director Market Access UCB

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